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Exxon Mobil Corpn, IOC Ink Pact for Transport of Natural Gas

The Exxon Mobil Corporation and the Indian Oil Corporation (IOC) have inked an agreement to help deliver natural gas in containers to Indian cities outside the pipeline network.

 

Chart Energy & Chemicals, a US-based company specialising in the supply chain of liquefied gas, will also be a part of the letter of cooperation along with Exxon Mobil India LNG and IOC.

 

The agreement is expected to help achieve its target of raising the share of gas in the energy basket to 15 percent in 10 years, from 6.2 percent now.

 

India has started importing LNG and crude oil from the US only in the past two-three years, but trade has increased significantly. IOC finalised a term contract in February 2019 to buy crude from USA, making the country a major source of energy for India.

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